Competing for jobs and attracting industry in today's economic climate is a challenge. Successful economic developers know that at the heart of a competitive economic development strategy is community development. The newly redesigned ThreeStar program is geared to assist your community development efforts and ensure you compete at a higher level through enhancing and improving community assets.
The newly revised ThreeStar program is designed to focus on these areas, identified as critical to ensuring the success of Tennessee communities:
Participation in the ThreeStar program will begin January 1, 2013, and will be based on an annual evaluation. Local community leaders and Joint Economic and Community Development Boards are encouraged to focus on three to five substantive areas essential to competitiveness in a global economy. Achieving and maintaining certification status will enable your community to retain the state’s incentive dollar match for counties with an economic development project and will also provide a higher state match to counties demonstrating improvement across all five focus areas. New grant dollars will go to Tier Two and Tier Three communities that show improvement in focus areas.
In December 2013, and each December thereafter, ECD will provide each county with a scorecard that documents your community’s standing in the five focus areas. Used to aid the evaluation of your county in these key areas, the scorecard will document progress toward achieving the community goals set by local community leaders and JECD Boards.
The scorecard is designed to assess and reward each county on its unique progress in the three scored areas identified in their ThreeStar application. It is not a competitive system; counties compete only with themselves. Each county can address local issues through proven solutions by collaborating with other communities to share best practices and pool resources.
For more information about ThreeStar, email ECD.ThreeStar@tn.gov or call 615-741-2373.